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3d ago

CSX Tops Q2 Profit Forecast With Intermodal Volume Gains

Completion of key infrastructure upgrades precedes exploration of strategic rail deals under Surface Transportation Board review.

FILE - A Union Pacific train travels through Union, Neb., July 31, 2018. (AP Photo/Nati Harnik, File)
A GE AC4400CW diesel-electric locomotive, in Union Pacific livery, is seen as a Metrolink commuter train (right) arrives at Union Station in Los Angeles, California, U.S., September 15, 2022. REUTERS/Bing Guan/File photo
A CSX freight train travels in Washington, U.S., December 14, 2024. REUTERS/Benoit Tessier/File Photo
FILE - Union Pacific CEO Jim Vena talks in front of a locomotive simulator used to train engineers at the company's headquarters in Omaha, Neb., Dec. 15, 2023. (AP Photo/Josh Funk, File)

Overview

  • CSX posted adjusted earnings of $0.44 per share in the second quarter, beating the $0.42 analysts’ average estimate.
  • Revenue reached $3.57 billion for the quarter, narrowly missing the $3.58 billion forecast.
  • Overall shipment volumes held flat while intermodal traffic climbed 2%, reinforcing its growing revenue contribution.
  • The company is nearing completion of its Baltimore tunnel expansion and hurricane-related network repairs to boost capacity and operating fluidity.
  • CSX is engaging financial advisers as it evaluates potential mergers with BNSF, a move that would require Surface Transportation Board approval.